This is the best summary I could come up with:

Earlier this week, Bloomberg and Reuters reported that a “large unnamed AI company” — possibly Google — had entered into a licensing agreement worth about $60 million on an annualized basis.

“[Our] data APIs are able to provide real-time access to evolving and dynamic topics such as sports, movies, news, fashion, and the latest trends,” the prospectus continues.

“We believe that Reddit’s massive corpus of conversational data and knowledge will continue to play a role in training and improving large language models.

Content producers, from stock media libraries to news publishers, are increasingly turning to data licensing agreements with AI vendors as chatbots like OpenAI’s ChatGPT and Google’s Gemini threaten to sap traffic.

Vendors, in turn, have been spurred to pursue licensing agreements as they face a deluge of lawsuits alleging that they have no legal justification for training their models on data without permission or payment.

OpenAI, for one, has agreements in place with image gallery Shutterstock as well as publishers including Axel Springer, the owner of Politico and Business Insider.

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